Northeast Investment Management Reduces Stock Position in Pfizer Inc. (NYSE:PFE)

Northeast Investment Management reduced its holdings in shares of Pfizer Inc. (NYSE:PFE) by 36.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 63,606 shares of the biopharmaceutical company’s stock after selling 36,493 shares during the period. Northeast Investment Management’s holdings in Pfizer were worth $1,687,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its holdings in Pfizer by 11.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after acquiring an additional 12,864,343 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Pfizer by 22.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock worth $1,101,713,000 after purchasing an additional 6,977,587 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Pfizer in the third quarter worth about $146,481,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Pfizer by 164.2% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,316,405 shares of the biopharmaceutical company’s stock valued at $211,737,000 after buying an additional 4,546,809 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in Pfizer by 226.7% during the 3rd quarter. Fisher Asset Management LLC now owns 6,209,907 shares of the biopharmaceutical company’s stock worth $179,715,000 after buying an additional 4,309,076 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Trading Down 0.3 %

Shares of NYSE:PFE opened at $25.76 on Friday. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The firm has a market cap of $145.96 billion, a P/E ratio of 18.27, a P/E/G ratio of 0.64 and a beta of 0.64. The company has a 50 day moving average of $26.28 and a 200-day moving average of $27.74.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.15. The company had revenue of $17.76 billion for the quarter, compared to analysts’ expectations of $17.26 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The firm’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same period last year, the firm earned $0.10 EPS. As a group, analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 6.68%. This is an increase from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, January 24th. Pfizer’s dividend payout ratio is presently 121.99%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PFE. Bank of America reiterated a “neutral” rating and set a $29.00 target price on shares of Pfizer in a research note on Tuesday, December 10th. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Citigroup decreased their target price on Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Truist Financial dropped their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Finally, Wolfe Research assumed coverage on Pfizer in a research report on Friday, November 15th. They set an “underperform” rating and a $25.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.92.

Pfizer Profile

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.